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Paper Recycling July 03, 2020 02:00:06 PM

DS Smith Profits Boosted by Robust Demand From E-Commerce Market

Paul Ploumis
ScrapMonster Author
DS Smith achieved record return on sales of 10.9%.

DS Smith Profits Boosted by Robust Demand From E-Commerce Market

SEATTLE (Scrap Monster): Packaging Supplier DS Smith reported 5% surge in annual profits, mainly aided by strong e-commerce demand. The company released the full year financial results for 2019/20 yesterday.

According to company press release, the company’s operating profit totalled £660m, compared to £628m during the prior year. The full-year revenues recorded decline from £6.17bn in the year before to £6.04bn. The revenues during the final two months of the financial year were impacted by almost £15m on account of coronavirus crisis.

DS Smith achieved record return on sales of 10.9%. The reported profit before tax declined from £455m to £437m over the previous year. On the other hand, the adjusted profit before tax surged higher from £350m to £368m.

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Commenting on the result, Miles Roberts, Chief Executive said that the company has made good strategic and financial progress during the year. The company’s increased focus on sustainable fibre-based packaging solutions and its strong commercial focus helped to drive record margin. However, the covid-19 impacts on economies in which it operate, are likely to impact volumes and add to operating costs. The impact will be limited to H1 FY21, Roberts added.

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